Constellation Brands Trades Higher On Q3 Earnings Beat

Constellation Brands Trades Higher On Q3 Earnings Beat

Constellation Brands (STZ) on Wednesday reported third-quarter earnings of $2.14 per share, which beat the analyst consensus estimate of $1.83 by 16.94%. This is a 9.7% decrease over earnings of $2.37 per share from the same period last year.

The company reported quarterly sales of $1.999 billion, which beat the analyst consensus estimate of $1.95 billion by 2.51%. This is a 1.32%increase over sales of $1.973 billion in the same period last year.

Constellation is the largest beer import company in the United States, led by brands like Corona and Modelo Especial, as well as Svedka Vodka and Casa Noble Tequila.

Constellation Brands shares were trading up 3.5% to $190 at the time of publication. The stock has a 52-week high of $214.48 and a 52-week low of $150.37.

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